• Litecoin's MimbleWimble launch on a testnet
• Ripple’s Swell 2020 conference will be held virtually on October 14 and 15
Bitcoin could reach $14,000 in 2020 and $100,000 in 2025, according to a Bloomberg analyst
According to recent Bloomberg report Bitcoin is in a period of low volatility and could reach $14,000 in 2020 and $100,000 in 2025. Mike McGloone, Senior Commodities Strategist for Bloomberg Intelligence expects that Bitcoin will continue the “historical trend” .McGloone believes that Bitcoin’s fundamentals have remained strong. Specifically, the increase in the hash rate that has reached a new all-time high and the number of active Bitcoin addresses “is equivalent to a price of about $15,000”.
BITCOIN – price bounced of the upward trendline and is currently testing major resistance level at $10,900. If buyers manage to break above it, an upward impulse towards $11,175.00 could be launched. On the other hand, once sellers regain control, the support at $10,600 may be at risk. Source: xStation5Litecoin's MimbleWimble went live on testnet last week, according to the information published on the project's official website. Phrase MimbleWimble comes from the Harry Potter books, where it was a curse that tied the target's tongue in a knot, preventing them from making coherent speech. In the cryptocurrency industry, MimbleWimble means that the protocol can hide transaction data. From a technical point of view MimbleWimble is a protocol based on Proof-of-Work (PoW) consensus algorithm with high scalability in increased privacy features. According to David Burkett, the creator of the cryptocurrency Grin, which has been working on the MimbleWimble project since October 2019, the testnet supports several connected nodes and blocks mining functionality. Currently the protocol is tested by the community and the developer plans to improve the project to make it more user-friendly. The launch of MimbleWimble tetsnet takes LTC a step closer to the status of a privacy-focused coin.
Litecoin has been trading in a sideways move with some upside recently. If sellers will manage to break above the upper limit of the range at $47.39 then the upward move towards $50.25 is possible. On the other hand, breaking below the support at $43.60 could pave the way for a bigger decline. Source: xStation5Ripple’s annual Swell conference will be held virtually on October 14 and 15. Event first took place in August 2017 and its aim is to bring together the top figures in the digital currency and blockchain worlds. The two keynote speakers announced for the event are Sheila Warren - Head of Blockchain, Digital Assets, and Data Policy for World Economic Forum - and Mahesh Uttamchandani - the Practice Manager for Financial Inclusion, Infrastructure & Access in the Finance, Competitiveness, and Innovation Global Practice at the World Bank Group. Investors will pay attention to this event as Ripple price tends to drop during and after the Swell conference.
RIPPLE is testing the key resistance levele at $0.25 which is additionally strengthened by 50 SMA (green line). If sellers manage to halt advance here, the downward move into $0.23 is possible. However, in case of a break higher, the next resistance to watch is located at $0.2681. Source: xStation5The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
